India’s media industry received about ₹19,197.30 crore in FDI from April 2000 to February 2015, amounting to about 10 per cent of the industry’s size, according to a new book.
The book India’s Changing Media Landscape analyses the emerging trends of the media industry in the country after it was opened up for foreign investment and the economic liberalisation was launched 25 years ago.
Authored by Ahsanul Haq Chishti, a doctorate in media research, the book gives a detailed account of the Foreign Direct Investment in the media industry and its direct or indirect impact on ownership control and content besides profiling some emerging giants of the industry in the country.
It suggests steps for regulating the balance between investment, ownership control and content to ensure the diversity of opinion and views.
The author, who hails from Baramulla district of Kashmir, says the media industry in the country, as per industry estimates, is growing by a compounded annual rate of 14 per cent to touch a volume of ₹226,000 crore by 2020.
To oversee and regulate the ever-growing media industry, it suggests revision of the country’s laws governing media industry and setting up of a national authority.
The book has recommended setting up of a national Regulatory Authority — a blend of Press Council of India and Telecom Regulatory Authority of India — to monitor and supervise the corporate mergers and tie ups besides looking at issues like circulation, TRPs, market share and other issues in the industry on full-time basis.
The book says that cross media restrictions are in place in a number of countries, including some technologically advanced countries like the United States, Japan, England and Italy.
Modes of operation, extent and manifestations of these restrictions, however, vary from country to country, adds the book.